Manganese X Updates Woodstock NI 43-101 Technical Report: Progressing Towards a Preliminary Economic Assessment
Montreal, July 16, 2020 - Manganese X Energy Corp. (TSXV: MN) (FSE: 9SC2) (TRADEGATE: 9SC2) (OTC Pink: SNCGF) ("Manganese X" or the "Company") Montréal, Québec, Canada, is pleased to announce that it has completed an updated National Instrument ("NI") 43-101 Technical Report for its 100% owned Woodstock Battery Hill Manganese Property located in New Brunswick. The updated Technical Report, dated June 30, 2020, includes exploration work carried out since 2016. A copy of the Report is available on the Company's website and on SEDAR (link to the report: https://www.sedar.com/DisplayCompanyDocuments.do?lang=EN&issuerNo=00026880) The Technical Report states that Battery Hill is a property of merit and notes the following significant advancements:
- Metallurgical and Purification testing on the Battery Hill mineralization has successfully demonstrated techniques capable of producing high purity MnSO4 to 99.95%, with low contaminants, a level potentially sufficient for the use as a component in the production of EV and storage battery manufacturing.
- Diamond drilling has been completed over a 1.8 kilometer strike length of the prospective manganese occurrence trend. Most holes intercepted significant grades and widths of manganese mineralization such as 10.75% Mn over 52.6 meters (core length) in SF-16-05, 12.96% Mn over 32.85 meters (core length) in SF-16-08 and 9.39% Mn over 74.0 meters in SF-17-18.
The Technical Report recommends continued metallurgical testing to focus on flowsheet development to combine the steps identified thus far into a complete process that is efficient and cost effective. Additional diamond drilling is recommended to better delineate the mineralization and to bring it to an inferred resource category. The drilling should be focused primarily on the Moody Hill sector which has the highest grades and thicknesses of near surface Mn mineralization; as well as the largest amount of metallurgically preferred types of mineralization.
The Company intends to commence a diamond drill program, focusing on the Moody Hill sector as recommended this fall; as well as an environmental baseline study as the project advances during 2020 - 2021. As announced on June 23, 2020, Phase Two metallurgical bulk testing with Kemetco Research Inc ("Kemetco") is underway and the results are encouraging as we continue to advance the development of a workable extraction process and flow sheet.
Upon successful completion of the programs recommended in the NI-43-101Technical Report, work will be initiated towards the completion of a Preliminary Economic Assessment ("PEA").
Martin Kepman, CEO of Manganese X commented, "We are accelerating our efforts at capitalizing on our manganese asset. We have already validated the ore purity and acceptability for the EV space as well as the stored energy segment. Manganese is one of the leading battery metals amid the current renewable energy revolution."
Roger Dahn, B.Sc., P.Geo (New Brunswick), Manganese X Energy's Vice President of Exploration, is designated as the Qualified Person in compliance with National Instrument 43-101 with respect to this release and has reviewed the contents for accuracy. The technical information contained in this news release has also been reviewed and approved by Perry MacKinnon, P.Geo., the author of the Technical Report, dated June 30, 2020 and who is a Qualified Person regarding Manganese X Energy's Woodstock manganese property located in New Brunswick.
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Manganese's X mission is to acquire and advance high potential manganese mining prospects located in North America with the intent of supplying value added materials to the lithium ion battery and other alternative energy industries. In addition our company is striving to achieve new methodologies emanating from environmentally and geographically ethical and friendly green/zero emissions technologies, while processing manganese at a lower competitive cost. For more information visit the website at www.manganesexenergycorp.com.
On behalf of the Board of Directors of
Manganese X Energy Corp.
Martin Kepman
CEO and Director
Email: martin@kepman.com
Tel: 1-514-802-1814
Cautionary Note Regarding Forward-Looking Statements:
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains "forward-looking information" including statements with respect to the future exploration performance of the Company. This forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements of the Company, expressed or implied by such forward-looking statements. These risks, as well as others, are disclosed within the Company's filing on SEDAR, which investors are encouraged to review prior to any transaction involving the securities of the Company. Forward-looking information contained herein is provided as of the date of this news release and the Company disclaims any obligation, other than as required by law, to update any forward-looking information for any reason. There can be no assurance that forward-looking information will prove to be accurate and the reader is cautioned not to place undue reliance on such forward-looking information. We seek safe harbor.
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